What is the executive crypto order?

The executive crypto order states for the Department of Commerce to collaborate with US Government agencies to establish policy frameworks. Moreover, such frameworks will lay the foundation for other agencies within their policies, operations, and development toward digital assets.

What does Biden's Executive Order mean for crypto?

Another key area Biden’s executive order focuses on is rooting out illegal activity in the crypto space. The president has called for an “unprecedented focus of coordinated action” from federal agencies in mitigating illicit finance and national security risks posed by cryptocurrencies.

Is the Executive Order good for bitcoin?

As of Wednesday afternoon, bitcoin was up about 8 percent the day after news of the executive order broke — evidence that the order is popular among many crypto investors as well. This enthusiastic response makes sense.

Should the government regulate crypto?

Some believe the government shouldn’t be involved in regulating crypto at all and that Biden could still end up hamstringing the technology. Conversely, critics who claim the crypto industry is rife with fraud, scams, and criminal activity are arguing for tighter regulations of cryptocurrency, not wider acceptance.